We build and estimate a two-sector dynamic stochastic general equilibrium model with two types of inventories: Input inventories facilitate the production of finished goods, output inventories yield ...

Many situations in economics are complicated and competitive. New research raises the question of whether many theories in economics may suffer from the very fundamental problem that the key ...

James Chen, CMT is an expert trader, investment adviser, and global market strategist. Erika Rasure is globally-recognized as a leading consumer economics subject matter expert, researcher, and ...

[Vienna, April 2019] A shock pushes economies out of a state of equilibrium. Modern macroeconomics are still based on the assumption of equilibria. That makes them fail when dealing with economies in ...

We provide a model wherein oligopolists produce differentiated products that also have a safety attribute. Consumption of these products may lead to harm (to consumers and/or third parties), lawsuits, ...